According to Market Research Future (MRFR), the global paper bags packaging market is projected to expand at a CAGR of 4.3% from 2017 to 2023 (forecast period). The report explores and investigates the influence of the outbreak of COVID-19 on the global paper bags packaging market, including potential opportunities and challenges, drivers, and risks.
Paper bag packaging has become a crucial component of modern lifestyle and is expected to establish a large demand in the coming years due to its eco-friendly nature. Paper bags are a multipurpose and cost-effective packaging method to preserve, protect, and transport a wide variety of products.
Innovation plays a crucial role in the development of the global paper bags packaging market. As a result, advances in packaging technology have encouraged companies to innovate instead of sticking to conventional packaging methods. In addition, several businesses depend on product designs in order to thrive in a competitive market. Companies invest more in packaging innovation than on production costs in order to improve the performance of the packaging technique.
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The industry giants in the paper bags packaging market include National Paper Products Company (Saudi Arabia), International Paper Company (U.S.), Hotpack Packaging Industries LLC (Dubai), Smurfit Kappa Group PLC. (Ireland), B&H Bag Company (U.S.), DS Smith Plc. (U.K.), WestRock Company (U.S.), Holmen Group (Sweden), OJI Holding Corporation (Japan), Georgia-Pacific LLC. (U.S.), Ronpak (U.S.), United Bags, Inc. (U.S.), Novolex (U.S.), Paper Sacks Factory (UAE), and Hood Packaging Corporation (Canada).
The global paper bags packaging market has been segmented based on product and application.
Based on the product, the market has been segmented into the flat paper bag, multi-wall paper sacks, and others. Multi-wall paper sacks held the largest market share in 2016. These paper bags are sturdy and durable and are also used for packing dry & powered form of materials like dry chemicals, cement, and others. Several types of multi-wall paper bags are available on the market, like pasted valve bags, multi-wall paper over poly, sewn open mouth bags, and pinch bottom open mouth bags.
By application, the global paper bags packaging market has been segmented into food & beverage, construction, pharmaceutical, retail, chemicals, and others. Retail leads the application segment of the market. The rising demand for c onsumer products and the establishment of shopping malls and consumer stores in rural and urban areas will increase the demand for paper bags. Construction is another significant application segment of the market. Kraft multi-wall paper sacks are used for cement packaging. As a result, demand for cement is rising with the growing construction sector, which has a positive effect on the industry’s growth.
Based on the regions, the global paper bags packaging market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
North America dominates the global paper bags packaging market. Increased demand for packaged food in this area is boosting the market growth. The U.S. captured the largest market share in the North American region. Moreover, the increasing preference for hygienic packaging and the high growth of the pharmaceutical industry in the North American area is boosting the growth of the market. Europe is another significant market in terms of demand for paper bag packaging and is projected to make a substantial contribution to market growth during the forecast period. Europe has a crucial role in the innovation and creation of personal care, hygiene, and beauty products. Increasing emphasis on sustainability and increased demand for consumer-friendly products that are lightweight and easily transportable are key factors driving the paper bags packaging market’s growth.
The Asia Pacific region is expected to rise at the highest CAGR in the forecast period. Strong growth in the packaging industry in the Asia Pacific region is a crucial driver of market growth. Increasing industrial development and the growing urban population in developing nations further fuel market growth. Australia, China, Japan, India, and Indonesia are the main contributors to the Asia Pacific industry. China has the largest share of the regional market due to rapid growth in urbanization and industrial development.
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Product
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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